Marcus & Millichap Inc (MMI) CEO Sells $340,200.00 in Stock

Marcus & Millichap Inc (NYSE:MMI) CEO Hessam Nadji sold 13,500 shares of Marcus & Millichap stock in a transaction dated Wednesday, March 22nd. The shares were sold at an average price of $25.20, for a total value of $340,200.00. Following the transaction, the chief executive officer now directly owns 331,661 shares in the company, valued at approximately $8,357,857.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Hessam Nadji also recently made the following trade(s):

  • On Friday, March 24th, Hessam Nadji sold 9,000 shares of Marcus & Millichap stock. The shares were sold at an average price of $24.17, for a total value of $217,530.00.
  • On Tuesday, March 21st, Hessam Nadji sold 4,500 shares of Marcus & Millichap stock. The shares were sold at an average price of $24.97, for a total value of $112,365.00.
  • On Monday, March 20th, Hessam Nadji sold 4,500 shares of Marcus & Millichap stock. The shares were sold at an average price of $25.85, for a total value of $116,325.00.

Shares of Marcus & Millichap Inc (NYSE:MMI) opened at 23.66 on Monday. Marcus & Millichap Inc has a 52 week low of $22.93 and a 52 week high of $30.31. The company has a 50 day moving average price of $26.35 and a 200 day moving average price of $25.94. The company has a market cap of $900.76 million, a PE ratio of 14.25 and a beta of 1.57.

Marcus & Millichap (NYSE:MMI) last released its earnings results on Thursday, March 9th. The real estate investment trust reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.02. Marcus & Millichap had a return on equity of 31.33% and a net margin of 9.22%. The firm had revenue of $189.20 million for the quarter, compared to analyst estimates of $192.93 million. During the same quarter in the prior year, the firm posted $0.51 earnings per share. The company’s quarterly revenue was down 6.9% on a year-over-year basis. On average, equities analysts expect that Marcus & Millichap Inc will post $1.65 earnings per share for the current year.

Insider Buying and Selling by Quarter for Marcus & Millichap (NYSE:MMI)

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Institutional investors have recently added to or reduced their stakes in the stock. State of New Jersey Common Pension Fund D bought a new position in Marcus & Millichap during the third quarter valued at $523,000. Midas Management Corp bought a new position in Marcus & Millichap during the third quarter valued at $393,000. Prescott Group Capital Management L.L.C. raised its position in Marcus & Millichap by 31.8% in the third quarter. Prescott Group Capital Management L.L.C. now owns 44,494 shares of the real estate investment trust’s stock valued at $1,164,000 after buying an additional 10,733 shares during the last quarter. Wells Fargo & Company MN raised its position in Marcus & Millichap by 5.6% in the third quarter. Wells Fargo & Company MN now owns 5,622 shares of the real estate investment trust’s stock valued at $147,000 after buying an additional 300 shares during the last quarter. Finally, First Trust Advisors LP bought a new position in Marcus & Millichap during the third quarter valued at $368,000. 34.26% of the stock is currently owned by hedge funds and other institutional investors.

MMI has been the subject of several recent research reports. Zacks Investment Research cut Marcus & Millichap from a “buy” rating to a “hold” rating in a research note on Tuesday, December 6th. Wells Fargo & Co reissued a “hold” rating and issued a $27.00 price target on shares of Marcus & Millichap in a research note on Thursday, December 1st. William Blair cut Marcus & Millichap from an “outperform” rating to a “market perform” rating in a research note on Friday. Finally, Citigroup Inc initiated coverage on Marcus & Millichap in a research note on Tuesday, December 20th. They issued a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $27.00.

About Marcus & Millichap

Marcus & Millichap, Inc is a brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. The Company also offers market research, consulting and advisory services to its clients. It also offers two services to its clients, such as commercial real estate investment brokerage, and financing and ancillary services.

5 Day Chart for NYSE:MMI

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